Shareholders forced to the back of the queue and, bar a token settlement, will walk away with nothing …Contractors say it is unconstitutional, irrational, and will lead to ‘obvious and avoidable’ disadvantages for potential tenderers.
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As Steinhoff limps off the market, here’s who made billionsIt appears increasingly probable (in case it wasn’t obvious in December already) that shareholders in Steinhoff International will walk away with nothing … Moneyweb Fraud
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SCORPIO: SARB freezes billions in Steinhoff accounts — but you wouldn’t notice in company financial statementsThe South African Reserve Bank froze the funds in five accounts linked to Steinhoff’s local operations – said to hold a cumulative value of about R5.5bn. The Reserve Bank’s intervention is sure to tie a knot in operations but has not been declared in so many words in Steinhoff’s latest annual financial statements. Some chutzpah for a company previously found to have misrepresented its financial statements. 2/ The latest Scorpio investigation has found that the Reserve Bank froze the funds in five accounts linked to Steinhoff’s local operations – said to hold a cumulative value of about R5.5bn.
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South Africa: Sarb Freezes Billions in Steinhoff Accounts - But You Wouldn't Notice in Company Financial StatementsAnalysis - The South African Reserve Bank froze the funds in five accounts linked to Steinhoff's local operations - said to hold a cumulative value of about R5.5bn. The Reserve Bank's intervention is sure to tie a knot in operations but has not been declared in so many words in Steinhoff's latest annual financial statements. Some chutzpah for a company previously found to have misrepresented its financial statements.
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